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For Companies At a Glance
- Tasks: Lead financial strategy and operations for a dynamic distribution and broking business.
- Company: Join a leading firm in the insurance sector, driving growth and profitability.
- Benefits: Enjoy competitive salary, professional development opportunities, and a collaborative work environment.
- Why this job: Be at the forefront of financial decision-making, impacting business success and growth.
- Qualifications: Bachelor's degree in Finance or related field; 10-15 years of relevant experience required.
- Other info: Ideal for those passionate about finance and looking to make a significant impact.
The predicted salary is between 72000 - 108000 £ per year.
The Finance Director (FD) for distribution is responsible for leading the financial strategy, governance, and operations of the distribution and broking business. You as the FD will ensure financial stability, regulatory compliance, and operational efficiency while driving profitability and growth. The role also involves strategic financial planning, risk management, and stakeholder engagement to support business objectives. You will be working closely with and also reporting into the central group finance team and the Group Chief Financial Officer. You will be experienced and know the dynamics of working with a trading business and work in close proximity to the business.
Key Responsibilities
- Financial Strategy & Leadership
- Develop and implement financial strategies aligned with business growth and profitability.
- Provide financial insights and recommendations to the CEO and Board to drive commercial decisions.
- Develop and oversee capital allocation, investment strategies and cost optimization.
- Lead financial planning, forecasting and budgeting processes for sustainable business growth.
- Financial Operations & Reporting
- Oversee the preparation of accurate and timely financial reports, including P&L, balance sheets, and cash flow statements.
- Ensure compliance with accounting standards (IFRS, GAAP) and corporate governance requirements.
- An appreciation of Treasury, FP&A, Tax and Financial Control's and working with and understanding them.
- Drive operational efficiencies in financial processes, including revenue recognition, expense management, and cost controls.
- Manage relationships with auditors, banks and investors.
- Regulatory & Risk Management
- Ensure compliance with regulatory bodies such as the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and other relevant financial regulations.
- Monitor and manage financial risk, liquidity and solvency requirements.
- Ensure compliance with insurance broking regulations, including handling client money and regulatory capital requirements.
- Oversee internal and external audits, addressing any compliance issues.
- Insurance Broking & Distribution Financial Oversight
- Manage financial performance related to underwriting, commissions, fees and premium financing.
- Monitor broking revenues, insurer rebates and profit-share agreements.
- Develop pricing models and financial structures to optimize profitability in distribution.
- Oversee insurer and reinsurer relationships from a financial perspective.
- Business & Commercial Growth
- Work closely with commercial teams to develop financial models for new products, acquisitions, and partnerships.
- Support mergers & acquisitions (M&A) activities, including due diligence, financial integration and post-merger performance.
- Lead financial negotiations with insurers, partners and key stakeholders.
- Identify and implement cost-saving initiatives without compromising service quality.
- Leadership & Stakeholder Management
- Lead, mentor, and develop the finance team to drive a high-performance culture.
- Collaborate with senior management across sales, operations, underwriting and compliance to align financial goals with business objectives.
- Engage with external investors, regulators, insurers and other financial stakeholders.
- Have the capability and credibility of working relationship with senior level customers and partners.
Key Qualifications & Experience
- Education & Certifications:
- Bachelor's degree in Finance, Accounting, Economics or a related field.
- Professional finance qualification such as ACA, ACCA, CIMA.
- Experience:
- Minimum 10-15 years of financial leadership experience in insurance / insurance broking.
- Proven track record in financial strategy, regulatory compliance and risk management.
- Strong understanding of FCA/PRA regulations and capital requirements for insurance brokers.
- Mergers & acquisitions experience within the insurance sector is advantageous.
Finance Director employer: Virginia Tech
Contact Detail:
Virginia Tech Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Finance Director
✨Tip Number 1
Network with professionals in the insurance and finance sectors. Attend industry events, webinars, or conferences where you can meet potential colleagues or mentors who can provide insights into the role of a Finance Director in distribution.
✨Tip Number 2
Familiarise yourself with the latest trends and regulations affecting the insurance broking industry. Understanding the current landscape will help you engage in meaningful conversations during interviews and demonstrate your expertise.
✨Tip Number 3
Prepare to discuss specific financial strategies you've implemented in previous roles. Be ready to share examples of how you've driven profitability and growth, as well as how you've managed risk and compliance in a trading environment.
✨Tip Number 4
Showcase your leadership skills by highlighting experiences where you've mentored teams or collaborated with senior management. This will illustrate your capability to lead a finance team and align financial goals with broader business objectives.
We think you need these skills to ace Finance Director
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in financial leadership, particularly within the insurance or broking sectors. Emphasise your achievements in financial strategy, regulatory compliance, and risk management.
Craft a Compelling Cover Letter: Write a cover letter that specifically addresses the key responsibilities outlined in the job description. Use examples from your past experience to demonstrate how you can contribute to the company's financial strategy and growth.
Highlight Relevant Qualifications: Clearly list your educational background and professional finance qualifications such as ACA, ACCA, or CIMA. Make sure to mention any specific training or certifications related to regulatory compliance and risk management.
Showcase Leadership Skills: In your application, provide examples of how you have led and developed finance teams in the past. Highlight your ability to collaborate with senior management and engage with external stakeholders, as these are crucial for the role.
How to prepare for a job interview at Virginia Tech
✨Showcase Your Financial Acumen
As a Finance Director, it's crucial to demonstrate your deep understanding of financial strategies and operations. Be prepared to discuss specific examples of how you've developed and implemented financial strategies that drove growth and profitability in previous roles.
✨Understand Regulatory Frameworks
Familiarise yourself with the regulations set by the FCA and PRA, as well as any other relevant compliance requirements. During the interview, highlight your experience in ensuring regulatory compliance and managing financial risks, as this will be a key aspect of the role.
✨Prepare for Stakeholder Engagement Scenarios
The role involves significant interaction with various stakeholders, including senior management and external partners. Prepare to discuss how you've successfully engaged with stakeholders in the past, particularly in financial negotiations or during M&A activities.
✨Demonstrate Leadership Skills
As a leader, you will need to mentor and develop your finance team. Be ready to share your leadership philosophy and provide examples of how you've fostered a high-performance culture within your teams, as well as how you've collaborated with other departments to align financial goals with business objectives.
